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XLE trade ideas

Multiple Attempts to Break-out thwarted by Resistance on XLEFor the past year or so, AMEX:XLE keeps getting rejected at the top of this triangle. In my experience, if Price Action knocks enough on the door (be it support or resistance), eventually the door will be open and price action will break-through. Steps I noticed on an Impulse Breakout: - Price Action smashes through resistance - Price Action looks very bullish - At some point the price retraces and re-tests the lower level - The trend will either be confirmed or invalidated based upon A) if previous resistance is now support, the bullish momentum will likely continue B) if price falls back through the breakout point, and closes for a candle or two, the breakout is invalidated Markets are designed to confuse. I've seen several breakouts retest then fail falsely, only to continue on a bullish trajectory. Let's apply the above logic to the 2021 time frame 1. Resistance at the top of that wedge is hit in Q1 2. During Q2 the price attempts to break out, but eventually fails 3. The lower end of the shape acts as support, sending price action up with more momentum, 4. Q4 the breakout happens and gradually PA falls back down, Retests the top of the range for a single candle, then rips up strongly to the upside.
AMEX:XLE
by b6d1016fdeb149be865b678a8ac935
XLE: Watch for break See chart above. With the market pumping and an apparent rotation back into other stocks like tech, etc. the pressure is on for energy stocks. We are currently in a pennant, hovering on 1 SD from the mean. Two options here: #1 Break down from the pennant and thus, break down from 1 SD: We are going for a mean reversion back to the high to mid-60s. #2: Hold the pennant and 1 SD as support We are going back to the top of the pennant in the low 90s. Watch for the break and/or hold. The chart is the weekly, longer-term idea. If we break, I don't like holding short but I will try a small ERY position. Just my thoughts!
AMEX:XLE
by Steversteves
2
More Downside in Energy ETF?Energy was the only the only major sector to fall last month. Is there more downside risk? The first pattern on today's chart of the SPDR Select Sector Energy Fund is the November 6 close of $85.70. XLE gapped under that level the next day and has remained there since. Last week saw prices attempt to rally but again stall at the same price area. Has old resistance become new support? Second, the lower study uses our 2 MA Ratio custom script to plot the relationship between the 8-day exponential moving average (EMA) and the 21-day EMA. The faster EMA has remained consistently below the slower EMA, which could indicate a short-term downtrend is underway. Turning to the longer term, XLE has been trying to hold its 200-day simple moving average. A breakdown could make traders think prices are starting a longer-term downtrend. Next, the monthly chart highlights a rising trendline since mid-2022. A drop under this support could also be viewed bearishly. Finally, you have lower highs running back to June 2014. Downside from here -- at a time of rising oil supplies -- could confirm that longer-term resistance. Standardized Performances for ETF mentioned above: SPDR S&P Bank ETF (KBE): 1-year: -7.21% 5-years: +31.50% 10-years: -0.06% (As of November 30, 2023) Performance data shown reflects past performance and is no guarantee of future performance. The information provided is not meant to predict or project the performance of a specific investment or investment strategy and current performance may be lower or higher than the performance data shown. Accordingly, this information should not be relied upon when making an investment decision. Exchange Traded Funds (“ETFs”) are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
AMEX:XLE
by TradeStation
1
Technology to Energy RatioEverything is cyclical. Every asset has its own cycle eventually in its own time. From Crypto to Real estate and Technology. I crossed compared the Energy sector to the Technology Sector. XLE/QQQ Then overlaid the Technology Sector to the Energy Sector QQQ/XLE As you can see there is many clues where one will always outperform the other. You just have to hold these assets where one is gaining vs the other. One asset will suck the liquidity of the other and visa versa until one completes the cycle then it repeats Hard assets are primed for outperformance. Happy Investing
Editors' picks
AMEX:XLE
by AxeCapp
9
XLE, LONG I don't see a whole lot of opportunities right now , with exception of energy , primarily oil , which is significantly net short per IG data and outpreforming pretty much everything . I am going to focus on XLE probably for rest of the year and I moved out of my TBIl position to buy this now .... Above GLB , Crude Oil shorted per IG traders data at 71% net short , XLE significant RS strength vs spy, oil could be on multiyear uptrend here ... Last time market went du doo , XLE outperformed , I think we might have put our highs in on QQQ/SPY and I am hoping that I might just be right that oil will give me a way to keep account growing .
AMEX:XLELong
by NAK1987
XLE - true breakout or fakeout?Oil has been ripping lately and trying to establish a new consolidation range. Keep in mind this rally in energy has occurred as the DXY has had 9 weeks of consecutive upside. The energy sector has been a bullish piece of the market and is at a critical support level. If this breakout in XLE is to hold we could see some significant upside. A weekly & daily breakout has been confirmed but when you zoom out to the monthly chart this could be signalling a failed Double top reversal. Seeing how XLE closes the monthly candle will be telling for the market as oil has been the main increase in the CPI and inflation expectations.
AMEX:XLE
by Trading-Capital
XLE Looking LongHi mates, Sharing weekly chart of XLE it is looking good by breaking a horizontal and falling resistance of triangle so i am considering that it is a breakout and planning to go long in it, targets identified by the two ways one is price based and one is pattern (triangle) based measured by Height of triangle from where it took resistance (last swing high) to swing low it made after that are the potential target can arrived in coming sessions. This is not and trade or investment advice. This idea is meant for learning only.
AMEX:XLELong
by AMIT-RAJAN
22
RSI DivergencePrice does not slope in the same direction as RSI which equals a Divergence. Price slopes up and RSI slopes down which equals a bearish divergence. Bearish divergences are measured at the peaks and bullish divergence is measured at the valleys. Prior inverse head and shoulders marked with blue stars. Shooting star which turned in to a Doji since i have been typing is at the top of this leg up which is also a gravestone doji. Followed by a spinning top which represents indecision. Candles need confirmation which has not yet occurred. A spinning top has a small candle body and a doji has a very small body or only a line as it's body. No recommendation No recommendation
AMEX:XLE
by lauralea
1
Chart Request_Harmonic Elliott Wave and Hurst's Cyclic AnalysisAnalysis of the Structure: Looking into the weekly chart, I see XLE in wave IV of (a) of III, developing as a triangle. Analysis of the Cycles: I have the March 2020 low as an 18-year cycle trough. Right now, we are in the third 80W cycle of the current 54M cycle. Considering the nominal 54M cycle length, we should get the 54M cycle trough in August 2024 (wave (b) of III). The 40W cycle trough in the current 18M cycle is expected on the December 2023.
AMEX:XLE
by bamdadsalarieh
2
$XLE Ascending Triangle PatternAMEX:XLE Ascending Triangle Pattern, waiting for a breakout. Key Elements: Rising Support Line: This trendline connects the higher lows. It indicates that buyers are stepping in at higher prices, suggesting increasing demand and potential accumulation. Slightly Sloping Resistance Line: This trendline connects the roughly equal highs, forming the upper boundary of the triangle. It represents a level where sellers are currently entering the market. Interpretation: The bullish triangle pattern suggests that despite the temporary resistance encountered at the horizontal trendline, buyers are gradually becoming more dominant. As the price gets squeezed into the apex of the triangle, there's a diminishing range between the highs and lows. This compression often signifies a potential breakout to the upside. Potential Breakout: Traders closely watch the pattern for a breakout. A breakout occurs when the price moves decisively above the horizontal resistance line. This is often accompanied by an increase in trading volume, indicating a surge in buying interest. The expected price target after a bullish triangle breakout can be estimated by measuring the height of the triangle at its widest point and adding it to the breakout price. Confirmation: To confirm the validity of the bullish triangle pattern, traders often look for an increase in volume during the breakout, price movement above the resistance line, and ideally, a retest of the upper trendline as new support.
AMEX:XLE
by AlgoTradeAlert